Customer relationship management as a term refers to any system or modular structure used to ensure proper management of a company’s interaction or relationship with its clients. These clients can be those who are already associated with the company or those who are likely to become clients in the future.
When a company starts off, it has a lesser number of clients which tends to increase as the company grows. With fewer clients maintaining the perfect business relationship is easy but when these clients grow in number, maintaining the same can becomes difficult. This is where CRM or customer relationship management offers the perfect solution.
Technically speaking it is a system which is applicable to all parts of a business from sales to marketing, technical support and even customer service. This is a system which is used to:
- Organise clients on the basis of a common platform,
- Automate a system of maintaining proper interaction with them and
- Synchronise and solve any and all issues as and when faced by these customers.
The best system is one which uses social, online and mobile data along with the traditional touch-points to accomplish the above. In fact this system or model helps to make the clients feel that they are getting their due priority and importance, thus making for better customer relationship which is again conducive for the growth of business.
The use of this system to enhance customer conversions is already in vogue. In fact the ability of this system to harness social data as well as mobile and online data helps enable a business to target potential customer niches and create specific schemes, deals and offerings thereby maximising conversions.
There are other benefits too attached to CRM. Taking a structured approach also allows the company team members to concentrate on developing the other areas of business thereby ensuring the all-round development of the same.